CH$10\mathrm{.}2$ Prepare entries to record issuance of bonds, payment of interest, and amortization of bond

discount using effective$-$interest method

On January $1,2022,$ Ledecki Corporation issued $$2,000,000$ face value, $7\%,10-$year bonds at $$2,147,202.$

This price resulted in an effective$-$interest rate of $6\%$ on the bonds. Ledecki uses the effective$-$

interest method to amortize bond premium or discount. The bonds pay interest each January $1.$

Instructions

$($Round all computations to the nearest dollar.$)$

$2$ journal entry to record the issuance of the bonds on January $1,2022.$

$($b$)$ Prepare an amortization table through December $31,2024(3$ interest periods$),$

for this bond issue.

$($c$)$ Prepare the journal entry to record the accrual of interest and the amortization

of the discount on December $31,2022.$

$($d$)$ Prepare the journal entry to record the payment of interest on January $1,2023.$

$($e$)$ Prepare the journal entry to record the accrual of interest and the amortization of

the discount on December $31,2023.$

NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a $"?".$

$($a$)$

$($b$)$